I am the employee of two companies. At one company, I receive a SEP IRA. I know that SEP IRAs are not included in the standard annual elective deferral limit. At the second company, I have the option to receive a Simple IRA.

Can you receive both a SEP and SIMPLE IRA at the same time? If so, are there any hard limits on either IRAs or the combined total from the 2 IRAs?

For example, the 2018 limit for Simple IRAs is $12,500. Does this number go down if I add a SEP IRA into the mix? Does the characteristics of the SEP IRA change at all if I receive a Simple IRA?

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